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17 February 2012 Sector: Financial Services By: Liz Sinclair 7 Comments » Liz Sinclair

Prepared to think outside the tick-box?

It occurred to me recently that we are quite an insular nation, us British.

In a previous life, I remember being headhunted for my cross-sector industry experience. During the interview process, I was told that it would be incredibly helpful to have a “fresh perspective” – i.e. to take the learnings from my previous companies and think about how they could do things differently.

The reality couldn’t be further from the truth. I quickly learnt that mentioning best practice from my other company had the new team running for the hills, determined that their way was the best!

In my current role, it would seem that that trend is continuing.

Understandably, clients are keen for interim candidates to have relevant experience of their sector (although you could argue that, as in my case, other sectors may be useful too). So we place financial services lifers into Financial Services companies, retailers into Retail and so on – and in this risk-averse economic market, it doesn’t look set to change any time soon.

But a constant refrain from interims across our network is that they do have transferrable skills on the whole, whether it be Business Transformation, HR or Finance to name but a few.

And with a little faith on the part of the client, they believe they can do a great job.

What do you think? As a client, would you take a risk and hire an interim from outside your sector?

In my view, the only time it really happens nowadays is when someone comes recommended through direct sources – and I don’t hear of too many failures in these cases.

Liz Sinclair is the Account Director at Interim Partners.

7 Responses to “Prepared to think outside the tick-box?”

  1. Wouter Says:

    Quite right Liz, and it’s a problem I have to deal with myself continuously. Because my own professional background is rather cross-sectoral, not having consistently worked within the same type of roles, nor the same industries, I often have to ’sell’ my CV to hiring managers as they fail to look beyond the obvious and see what kind of value I could really bring to them. Most of the times they have a type of candidate in mind with a CV mentioning all the required keywords, coming from exactly the same role, and that’s it. On a positive note a good recruiter, a ‘real’ one who does more than just passing resumes around, usually makes an effort to overcome that barrier, trying to educate their customer.

    On a second point you make, being a freelance consultant I am often asked to bring knowledge, ’savoir-faire’, to a company, helping them to improve the standard of their operations and procedures. Alas. Most of the times a company believes ‘they know best’, failing to listen to what someone could teach them, coming from another industry. It’s an ever-recurring problem, but a natural reaction for people who have worked all their life in the same industry, and believe they know how it’s done. One usually has to learn how to put up with it, trying to reach out to them one step at a time.

    On the whole I’d say the problems you mentioned are far less present in the UK than in more traditional working cultures like France or Spain, where the problem is much more important, and university/school, degree and ‘network’ play a deciding role in being hired or not, and this for the rest of one’s life. In Britain I’d say the only sector really plagued by this kind of short-sightedness is the financial industry, not coincidentally an industry ruled by … yes, old boys networks.

    So is it a problem in the UK, yes, sometimes, but definitely not more, and usually less than in other countries. But does that make Britain not an insular nation then, as you say? No, on the contrary. The British are very, very insular, but not for the reasons you mentioned, and it’s a flaw hard to be recognised by Brits who never lived abroad.

    Best regards, Wouter

  2. Michael Ware Says:

    Speaking as an interim, it is recruitment agencies that put this block up – its easy for them. When you get in front of an MD or decision maker 9 times out of 10 they look at your skills first and whether you have solved this problem before & then sector.

    Obviously on times I have been personally recommended then sector never comes into it.

  3. Gaynor Gravestock Says:

    With a multi-sector background this certainly resonates with me. One of the things I believe we bring is a fresh look at problems and and our solutions are not as bound by what we we have done in the same circumstances in the past.

    So do businesses really want to bring in someone who has done the exact same job before and with extensive sector experience, when they are more likely to be bored and less able to look afresh at industry problems? Or is it better to put someone in with the right skills and track record of making a positive difference?

  4. Tom Pickering Says:

    Hi Liz,

    I think the problem you experienced – “running for the hills” – is all about ascertaining the scenario, aligning the approach alongside having the necessary engagement skills and nothing to do with sector! Sector is to do with certainty for the client, which leads to the aspiration that “if you do what you do, you get what you have got”.

    To really deliver value, multi-sector skills are essential alongside specific sector knowledge too. People with very successful but mono-sector skills can often come unstuck without the tools to recognise the scenario. For example, James Caan has only really had success in recruitment businesses!

    Regards Tom

  5. Ian Abernethy Says:

    Liz,
    Most of what you say also resonates with me and I must also partially agree with the comments from Michael Ware.
    I am principally securing opportunties via my network, where I can get in front of MD’s & CRO’s who want specific skills with a demonstrated track record of success; sector experience would be nice but it’s not essential for them.
    However too many supposedly reputable recruiters are simply making life easier for themselves by presenting sector specific candidates as the first tick box on their list, not necessarily their clients.
    Every sector and company I have worked in thinks its “special” and can’t be understood by “outsiders.” It’s nonsense and severely limiting to business development & success. You know it, I know it and they know it.
    It’s tough, but keep challenging clients to be open to a broad range of experience in candidates; it’s key to the continuing success of Interim Partners and the wider business world.

  6. Robert Steele Says:

    I have to agree with most of the above. I too have worked across various sectors and it still surprises me how entrenched the silo mentality is.

    Some of my best wins have resulted in my use of knowledge from one sector applied pragmatically in another, and this kind of cross-pollination simply does not occur in an ‘apples for apples’ environment.

    Rob

  7. Bob Mason Says:

    It seems to me that of all the sectors where some new thinking is sorely needed, surely Financial Services must be at the top of the list! And yet so many FS companies deny themselves access to talent with the experience of other sectors which could be so helpful to them.

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